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- NEIRO has hit a new All-Time High (ATH) amid a broad whale embrace.
- The token’s performance comes at a time when the memecoin ecosystem is on a bullish rampage.
The memecoin sector is bullish, with top tokens experiencing price spikes over the weekend. Memecoin NEIRO, described as Dogecoin’s successor, is an outstanding market performer, surging 50% in the past 24 hours.
The ATH Milestone Amid Intense Whale Activity
The surge in NEIRO’s price has pushed the memecoin to a new All-Time High (ATH) of $0.001502. As of writing, the memecoin was trading at $0.001458, with trading volume skyrocketing 334% to over $770 million in the past 24 hours.
The recent price uptick comes amid strong bullish whale activity and accumulation. The NEIRO whale activity has increased dramatically since mid-September, driving the price up by 3000% on the monthly chart.
Spot On Chain revealed that a whale investor with the wallet address rektdolphin.eth purchased NEIRO tokens worth approximately $1.8 million. Per the details, the whale swapped 190.5 billion Pepecoins (PEPE) and 6 Ethereum (ETH) to purchase 1.466 billion NEIRO tokens.
$NEIRO (@neiroethcto) rallied over 48% in the past 24 hours!
rektdolphin.eth is the top $NEIRO purchaser during this period, swapping a total of 190.5B $PEPE and 6 $ETH for 1.466B $NEIRO ($1.8M) around 4 hours ago, now making $334K (+19%).
Between Aug 15 and Sep 26, the whale… pic.twitter.com/iX1SM4EQsW
— Spot On Chain (@spotonchain) October 7, 2024
The whale investor has performed three major NEIRO trades between August 15 and September 26. These trades yielded the whale $824,000 in net profit with a 66.7% win rate. CNF discussed earlier that the increased whale activity indicated a growing interest in NEIRO.
Ethereum co-founder Vitalik Buterin also conducted transactions with NEIRO last week. Buterin converted 70.72 NEIRO memecoins into ETH, donating the money raised to the release of Tornado Cash developers.
Intriguingly, a different version of the NEIRO memecoin on Ethereum also experienced a 12% growth over the past day. Its market capitalization, however, remains just one-tenth of the larger NEIRO token, which is at $617,574,594.
NEIRO Whale Activity Sparks Memecoin Frenzy
The strong whale activity NEIRO coincides with the massive rally across the memecoin sector. Top memecoin gainers include Dogecoin (DOGE), Shiba Inu (SHIB), Dogwifhat (WIF), and PEPE. Within the last 24 hours, DOGE increased by 4.5%, while SHIB rose by over 6%. Other players, like WIF and PEPE, are up 21% and 14.3% respectively.
The bullish momentum in the memecoin sector comes after a consolidating third quarter. Top meme coins are once again seeing increased demand in the market. Despite the visible signs, the question of whether NEIRO will become the next major player in this industry remains to be discovered.
Built on the Ethereum blockchain, NEIRO positions itself as the successor to Dogecoin. The memecoin strives to provide its users with an engaging environment while remaining committed to charitable endeavors.
The project has gained traction in crypto, particularly after huge community adoption. As CNF reported, top crypto exchange Binance has also introduced a perpetual contract for NEIRO. This new product allows users to trade NEIRO against USDT with up to 75x leverage.
